Have you ever wondered why the tax year starts on 6 April and not, say, 1 April or 1 January? We explain why in a new video.
In the UK, 6 April marks the start of a new tax year for taxes on income and gains of individuals, but it hasn’t always been that way. Historically, the tax year began on 25 March, so what changed? We look at the key events in a new video, including the UK’s transition from the Julian to the Gregorian calendar and a night that lasted 11 days!
The video is part of a series that aims to give an easily digested description of different aspects of tax that can be readily understood by anyone who is not an expert in that particular field. In other videos we explore how tax changes become law and Making Tax Digital for income tax, which will require many sole traders and landlords to keep digital records and submit quarterly updates to HMRC.
We will be adding to the collection in the coming weeks and months, to build up a resource to be used by all accountants. If there is a topic you’d like to see covered, please email Stephen Relf.
